The Quest Model of the European Community
This paper provides a description of features of the Quest model which are relevant for model builders wanting to attach detailed models of non-OECD members, such as the Asian newly industrializing economies or the ASEAN countries, to an existing model of the world economy. It is also intended to be of some use to international model builders that wish to cover the EC economy, either by including models for individual Member States or by constructing an aggregate model. For that purpose, the key parameters estimated for the EC countries, which are all represented in the Quest model, are summarized in the form of elasticities for the EC economy as a whole. More detailed information about the system can be found in European Economy No.47, which documents the 1990 version of the models and from which most of the material in this paper is taken.
KeywordsImport Price Export Price Government Debt Social Security Contribution Trade Linkage
Unable to display preview. Download preview PDF.
- Bekx, P., A. Bucher, A. Italianer and M. Mors (1989) ”The Quest Model (Version 1988),” Economic Papers No 75, MarchGoogle Scholar
- Brandsma, A. (1989) ”Ambition and Risk Aversion in the Design of Economic Policies,” Rotterdam, World Scientific Publishing Co., forthcomingGoogle Scholar
- Catinat, M., R. Cawley, F. Ilzkovitz, A. Italianer and M. Mors (1987) ”The Determinants of Investment,” European Economy No 31, MarchGoogle Scholar
- Commission of the European Communities (1990) ”One Market, One Money. An Evaluation of the Potential Benefits and Costs of Forming an Economic and Monetary Union,” European Economy, No. 44, October, BrusselsGoogle Scholar
- Commission of the European Communities (1991) ”Quest. A Macroeconomic Model for the Countries of the European Community as Part of the World Economy,” document prepared by A. Brandsma, J. op de Beke, L. O’Sullivan and W. Roger, European Economy, No. 47, MarchGoogle Scholar
- Dramais, A. (1986) ”Compact — A Prototype Macroeconomic Model of the European Community in the World Economy,” European Economy, No 27, MarchGoogle Scholar
- Italianer, A. (1987) ”Estimation and Simulation of International Trade Linkages in the Quest Model,” European Economy, No 31, MarchGoogle Scholar
- Italianer, A. (1986) Theory and Practice of International Trade Linkage Models, Martinus Nijhoff Science Publisher, Dordrecht/BostonGoogle Scholar